A group of key decision-makers in the crisis-stricken Co-operative Group will convene in Manchester today for a crunch vote on the future of Britain’s biggest mutually owned organisation.

About 130 “kingmakers” will gather at the national headquarters to decide whether to approve a radical plan to modernise the board, make it more accountable to members and shore up its protection against a forced demutualisation.

A hundred representatives from the Co-op’s regional boards are expected to attend, along with officials from its 19 independent societies. The regional boards hold 78 per cent of the vote.